SPAR Group reports compliance with 10-K filing, but is non-compliant with 10-Q due to late submission.
Quiver AI Summary
SPAR Group, Inc. announced that it is in compliance with Nasdaq requirements regarding its Annual Report on Form 10-K filed on May 16, 2025, but has received a notice for not timely filing its Quarterly Report on Form 10-Q for the period ending March 31, 2025. This notice indicates non-compliance with Nasdaq Listing Rule 5250 (c)(1), although it does not immediately affect the trading of the company's shares. SPAR Group has been given 60 days to submit a plan to regain compliance, and if accepted, may receive an extension until October 13, 2025, to meet the requirements. The company is working on completing its Fiscal 2025 Form 10-Q to ensure it adheres to SEC reporting obligations.
Potential Positives
- SPAR Group has received a notification from Nasdaq confirming compliance with its Annual Report on Form 10-K, indicating progress in fulfilling regulatory requirements.
- Despite a notice regarding non-compliance with the Quarterly Report on Form 10-Q, Nasdaq has not taken immediate action against the listing or trading of the Company's shares, allowing time for remediation.
- The Company has been granted a 60-day period to submit a plan to regain compliance, demonstrating Nasdaq's willingness to work with the Company towards resolving its reporting issues.
- The Company anticipates completing its Fiscal 2025 Form 10-Q and maintaining compliance, reflecting a proactive approach to address the reporting delay.
Potential Negatives
- SPAR Group has received a notification from Nasdaq indicating it is not in compliance with Listing Rule 5250(c)(1) due to the failure to timely file its Quarterly Report on Form 10-Q.
- The company has been given only 60 calendar days to submit a plan to regain compliance, which could indicate potential ongoing regulatory issues.
- Failure to comply with Nasdaq regulations may lead to potential consequences, including the risk of losing its listing on the exchange if compliance is not achieved by the deadline.
FAQ
What recent notifications did SPAR Group receive from Nasdaq?
SPAR Group received two notifications: one confirming compliance with its 10-K filing and another regarding a late 10-Q filing.
Is SPAR Group's stock affected by the Nasdaq notifications?
No, the notifications have no immediate effect on the listing or trading of SPAR Group's shares.
What is SPAR Group's deadline for regaining compliance with Nasdaq?
The company has 60 calendar days to submit a plan to regain compliance, with a potential extension until October 13, 2025.
How does SPAR Group plan to address the compliance issue?
SPAR Group is diligently working to complete its Fiscal 2025 Form 10-Q to maintain compliance with SEC reporting obligations.
Where can I find more information about SPAR Group?
More information about SPAR Group can be found on their official website at http://www.sparinc.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SGRP Insider Trading Activity
$SGRP insiders have traded $SGRP stock on the open market 17 times in the past 6 months. Of those trades, 2 have been purchases and 15 have been sales.
Here’s a breakdown of recent trading of $SGRP stock by insiders over the last 6 months:
- BUSINESS SERVICES INC SPAR has made 0 purchases and 8 sales selling 42,989 shares for an estimated $80,460.
- ROBERT G/ BROWN has made 2 purchases buying 6,000 shares for an estimated $6,590 and 7 sales selling 35,244 shares for an estimated $63,003.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SGRP Hedge Fund Activity
We have seen 4 institutional investors add shares of $SGRP stock to their portfolio, and 20 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BERYL CAPITAL MANAGEMENT LLC removed 483,429 shares (-63.3%) from their portfolio in Q1 2025, for an estimated $638,126
- MURCHINSON LTD. removed 80,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $155,200
- CORSAIR CAPITAL MANAGEMENT, L.P. removed 64,106 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $124,365
- PENDERFUND CAPITAL MANAGEMENT LTD. removed 60,900 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $80,388
- CITADEL ADVISORS LLC removed 58,349 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $113,197
- VANGUARD GROUP INC added 42,981 shares (+8.8%) to their portfolio in Q1 2025, for an estimated $56,734
- ROYAL BANK OF CANADA removed 38,900 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $75,466
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
AUBURN HILLS, Mich., May 28, 2025 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (NASDAQ: SGRP) (“SGRP”, “SPAR Group” or the “Company”), a provider of merchandising, marketing and distribution services announced two Nasdaq notifications today. On May 21, 2025, SGRP received a notification letter from Nasdaq stating that SPAR Group is in compliance with regard to its Annual Report on Form 10-K filed on May 16 th . On May 22, 2025, Nasdaq notified SGRP that it did not timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2025. Based on this latest notice, the Company is not in compliance with Listing Rule 5250 (c)(1), which requires the Company to timely file all required periodic financial reports with the Securities and Exchange Commission.
The Notice received from Nasdaq has no immediate effect on the listing or trading of the Company’s shares. Nasdaq has provided the Company 60 calendar days to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company an exception until October 13, 2025, to regain compliance with the Nasdaq Listing Rules.
The Company continues to work diligently to complete its Fiscal 2025 Form 10-Q, after which the Company anticipates maintaining compliance with its SEC reporting obligations.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notice.
Forward Looking Statements
This Press Release (this “Press Release”) contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, made by, or respecting, the Company. There also are “forward-looking statements” contained in SGRP's definitive Proxy Statement respecting its 2025 Annual Meeting of Stockholders (the “Proxy Statement”), which SGRP filed on May 23, 2025, with the Securities and Exchange Commission (the “SEC”), and SGRP's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports and statements as and when filed with the SEC.
Readers can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Words such as “may,” “will,” “expect,” “intend,” “believe,” “estimate,” “anticipate,” “continue,” “plan,” “project,” or the negative of these terms or other similar expressions also identify forward-looking statements. Forward-looking statements made by the Company in this Press Release may include (without limitation) statements regarding: risks, uncertainties, cautions, circumstances and other factors (“Risks”).
You should carefully review and consider the Company's forward-looking statements (including all risk factors and other cautions and uncertainties) and other information made, contained or noted in or incorporated by reference into this Press Release, but you should not place undue reliance on any of them. The results, actions, levels of activity, performance, achievements or condition of the Company (including its subsidiaries, assets, business, clients, capital, cash flow, credit, expenses, financial condition, income, legal costs, liabilities, liquidity, locations, marketing, operations, performance, prospects, sales, strategies, taxation or other achievement, results, risks, trends or condition) and other events and circumstances planned, intended, anticipated, estimated or otherwise expected by the Company (collectively, “Expectations”), and our forward-looking statements (including all Risks) and other information reflect the Company's current views about future events and circumstances. Although the Company believes those Expectations and views are reasonable, the results, actions, levels of activity, performance, achievements or condition of the Company or other events and circumstances may differ materially from our Expectations and views, and they cannot be assured or guaranteed by the Company, since they are subject to Risks and other assumptions, changes in circumstances and unpredictable events (many of which are beyond the Company's control). In addition, new Risks arise from time to time, and it is impossible for the Company to predict these matters or how they may arise or affect the Company. Accordingly, the Company cannot assure you that its Expectations will be achieved in whole or in part, that it has identified all potential Risks, or that it can successfully avoid or mitigate such Risks in whole or in part, any of which could be significant and materially adverse to the Company and the value of your investment in the Company's Common Stock.
These forward-looking statements reflect the Company's Expectations, views, Risks and assumptions only as of the date of this Press Release and the Company does not intend, assume any obligation, or promise to publicly update or revise any forward-looking statements (including any Risks or Expectations) or other information (in whole or in part), whether as a result of new information, new or worsening Risks or uncertainties, changed circumstances, future events, recognition, or otherwise.
About SPAR Group, Inc.
SPAR Group is a leading merchandising and marketing services company, providing a broad range of services to retailers, manufacturers, and distributors. With more than 50 years of experience, the company distinguishes itself from the competition by offering flexible, scalable and innovative solutions to some of the world’s leading brands and retailers. For more information, please visit the SPAR Group’s website at http://www.sparinc.com .
Investor Relations Contact:
Three Part Advisors, LLC
Sandy Martin
[email protected]
214-616-2207
Source: SPAR Group, Inc.